SBA Gov't Scorecard Shows Increased Spending with SDBs, SDVOBs, WOSBs, HUBZones

The Small Business Administration is making major steps forward in expanding opportunities for Small Businesses.

Source : Contractor News

August 21, 2023

Author : Alex Bustillos

The annual SBA Govt scorecard measures how well the federal agencies meet the small business prime contracting and subcontracting goals. 

The new scorecard highlights the Biden-Harris Administration's consistent prioritizing of inclusivity and equity in meeting the contracting goals. It includes specific targets for small, disadvantaged businesses and service-disabled veteran-owned small businesses.

According to Administer Isabella Casillas Guzman, the Biden-Harris Administration exceeded its 23% objective for small business contracting in 2022, awarding 26.5% of federal contract dollars to small companies across the federal government. This equated to an investment of $162.9 billion in the small business industry, an increase of $8.7 billion from the previous fiscal year. 

The overall performance of the federal government for the year includes:

  • SDBs: for the second consecutive year, their spending exceeded SDBs' 11% goal
  • SDVOBs: the spending for service-disabled veteran-owned small businesses has exceeded its 3% goal and reached 4.6%, reflecting $3 billion in increased spending
  • HUBZone: the grants offered to Historically Underutilized Business Zone small businesses made a record of $16.3 billion in federal contracts. Though it didn't meet the 3% goal, the federal government has made significant efforts in supporting and empowering them.
  • WOSB: for the fourth year, women-owned small businesses received a grant of over $26 billion, accounting for 4.6% of the total eligible dollars for the year, and is slightly below their 5% goal.
  • Small business contractors: the federal government has awarded 30.9% or $79.1 billion the small business subcontractors and achieved their goals for the year

Contractor News has reported over the last fiscal year how many counties and cities across America have conducted disparity studies to address equal access to small and disadvantaged businesses.

Category : Disabled Veteran Businesses Disadvantaged Business Enterprises Small Business Enterprises Veteran Business Women Business Enterprises Federal Government

Related Update